UK Accounting Manager Bokio
31st Jan 2020
No I don't believe any think will change technically, so it will still only be boxes 1-9, but if people choose to continue to type in the values box 1-9, then they are taking the risk like with most things in tax, you won't need to pay any penalties unless you are caught.
I'm not saying that everyone should should be made to use, but using software or a digitally linked spreadsheet is certainly more accurate than paper workings and definitely reduces the chances of a mistake.
31st Jan 2020
I work for a Free accounting software and part of my role is customer support. The most common question I get is why can't I type in the figures into your VAT Return and I have to explain that you can't do this and you need to record your transactions, but these users often just find a bridging software where they can just type in their VAT figures. This way of just typing in figures will no longer be compliant at 01/04/2020 as HMRC's soft landing period will be over, perhaps then things will change and the amount of errors will reduce, will be interesting to see survey results later this year.
26th Sep 2019
Thanks for your comment.
We are constantly working on improving our software and are we are grateful for all the feedback we can get so that we can further improve according to our customers' needs.
Regarding Bank Feeds, this is our number 1 priority and we will have it live in the coming months. In the mean time, you have the ability to import transactions from your bank manually by simply copying and pasting.
Regarding your feedback on chart of accounts, we feel that it makes it simpler for small businesses with limited accounting experience to have a standardised set of accounts, however this is something we will continue to review.
We don't feel the need to integrate with Receipt Bank/ Auto Entry since we already have our own receipt uploading tool where our AI automatically reads the amount and payment date.
Regarding our UK accounting experience, this is something that we think is important. I am a qualified accountant and have worked in Accounting practices in the UK for 5 years, so I am aware of the importance to have an accounting software that is designed for the UK market.
26th Sep 2019
We understand your concern as many other tech businesses are applying this model, but as stated in the article, we promise to be free forever.
We feel that business owners should only have to pay for things that provide direct value to their business. Instead, what we plan to provide, and are already providing in Sweden, tailor-made suggestions of actions you can take to improve your business performance, including financial services that we will get a revenue share from. In Sweden these include accounting services, preparation and submission of year-end accounts, help setting up employee contracts, invoice financing etc. These additional services will always be optional and the free accounting software will always be available to you free of charge.
Please let me know if you would like to know more about this.
Dan at Bokio